Coinbase Grabs UK FCA License, Tokenized Stocks Coming
Coinbase has secured full MiFID-equivalent authorization from the UK's Financial Conduct Authority (FCA), allowing it to offer traditional equities, derivatives, and perpetual futures under one regulated roof in the UK.
The centerpiece of Coinbase's rollout is tokenized stocks backed 1:1 by underlying US equities, carrying full dividend rights and delivered through Coinbase's on-chain infrastructure. This positions Coinbase as on-chain capital markets infrastructure, rather than a brokerage bolting crypto features onto a legacy stack.
Coinbase UK users can now trade US stocks and crypto in one single app, with zero commission, 24/5 access, and fractional shares starting at £1. The tokenized stock layer is the headline differentiator for the UK launch, replicating the architecture of Coinbase's US product but adding this new feature.
The MiFID authorization gives Coinbase a first-mover window before the UK's comprehensive crypto framework is expected to be fully operative around late 2027. Competing exchanges that hold only cryptoasset registrations cannot currently offer the same suite of regulated equity and derivatives products.